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More Bad News: 10 Things You Should Know About The Latest Economic Numbers

By Michael Snyder, on October 8th, 2010

On Friday, headlines across the United States declared that “unemployment remains unchanged at 9.6%”. Many analysts rejoiced and heralded this announcement as a sign that we have hit bottom and that things will be turning around soon. But is that the truth? A closer look at the unemployment numbers reveals some disturbing facts. For example, according to the Bureau of Labor Statistics, a broader measure of unemployment that includes workers that have stopped looking for work rose sharply to 17.1%. But that is not the only troubling sign from this past week. Agricultural commodities continue to skyrocket, which means that food price increases are on the way. The foreclosure “robo-signing” crisis continues to escalate, and that threatens to throw the entire mortgage industry into a state of absolute turmoil. Meanwhile, the U.S. national debt continues to grow and wealth continues to leave the United States at a dizzying rate.

So is there reason for optimism?

No, not really.

Even if the unemployment numbers had improved slightly, the longer-term trends for unemployment are extremely troubling as you will see from the statistics and the chart below.

At the same time when so many Americans are out of work or can barely get by on what they are currently making, there is every indication that prices are about to go up. Wheat, corn and soybeans all jumped in price on Friday, and it is inevitable that at some point these price increases will be passed on to consumers. And if that wasn’t bad enough, now some Federal Reserve officials are actually talking about purposely generating more inflation in order to “stimulate” the U.S. economy.

Meanwhile, this “robo-signing” foreclosure crisis threatens to escalate totally out of control. Will we soon see thousands of court cases popping up from coast to coast challenging the legitimacy of foreclosure paperwork? Will title insurers start totally backing off from foreclosed properties? Banks were already completely overwhelmed trying to process the massive backlog of foreclosures. Is this going to make the situation a whole lot worse?

The truth is that more bad news for the U.S. economy comes out almost daily now. The following are 10 things that you need to know about the latest econ0mic numbers….

1 – Gallup’s measure of unemployment, which is not adjusted for “seasonal factors”, showed a sharp increase in September. According to Gallup, unemployment has increased from 8.9% in July to 9.3% in August and to 10.1% in September.

2 – The seasonally-adjusted Alternate Unemployment Rate compiled by Shadow Government Statistics shows that the real unemployment rate in the United States is worse than it has been ever since the economic downturn began. The Alternate Unemployment Rate calculated by SGS reflects estimated “long-term discouraged workers”, which the U.S. government stopped keeping track of back in 1994….

3 – The number of Americans working part-time jobs “for economic reasons” is now the highest it has been in at least five decades.

4 – 15.8% of Americans between the ages of 18 and 29 were unemployed during the month of September.

5 – Agricultural commodities continued to move higher on Friday. Wheat, corn and soybeans all saw their prices soar. Unfortunately for American consumers, this is part of a broader trend of rising agricultural commodity prices. As this continues, it is inevitable that we will all be seeing much higher food prices at our local grocery stores.

6 – It is being reported that PNC Financial Services Group has suspended the sale of foreclosed homes for the next thirty days. This is the fourth major lender to take dramatic action recently. Will nearly all U.S. mortgage lenders eventually be caught up in this crisis before it is over?

7 – Bank of America announced on Friday that it is now going to suspend sales of foreclosed homes in all 50 U.S. states as it continues to evaluate internal foreclosure procedures. This “foreclosure crisis” threatens to decimate the entire U.S. real estate industry. What has happened is that millions of U.S. mortgages were sold and resold around the globe at lightning speed and the chain of ownership for many of these mortgages become muddied. In addition, it is starting to emerge that many of these lenders used fraudulent loan documents during foreclosure proceedings and company officials often used “robo-signers” to sign important foreclosure documents. So now mortgage lenders, title insurers and those buying or selling foreclosed homes will be facing years of gridlock and chaos as foreclosure-related lawsuits multiply exponentially. All of this is going to have a dramatic effect on the U.S. real estate market. In fact, it is being reported that U.S. home sales are already starting to be affected by this crisis.

8 – The U.S. National debt just keep growing. If you took the national debt and divided it up among all Americans, each American (including children) would owe approximately $42,000. So, for an average family of four, their share of the national debt would be $168,000.

9 – Interest payments on the U.S. national debt increased 13% in the fiscal year that ended September 30th. If interest payments continue to increase that rapidly each year they will bankrupt the U.S. government very quickly.

10 – It appears that some weird games are being played with the national debt numbers. Back on September 29th, the U.S. national debt was 13.466 trillion dollars. On September 30th, the U.S. national debt soared to 13.561 trillion dollars. Then on October 1st, the beginning of the new fiscal year for the federal government, the U.S. national debt jumped up to 13.610 trillion dollars. So how in the world does the U.S. national debt jump by a whopping 144 billion dollars in just two days? Somebody has some explaining to do for this kind of accounting.

The United States was once the wealthiest nation by far on the entire planet.

But now we are in such a rapid decline that it is hard for most Americans to even comprehend it.

We are like that one couple that almost every neighborhood seems to have that has two shiny new cars in their driveway, that dresses in designer clothes and that seems to have plenty of money to take vacations and yet is in debt up to their eyeballs.

The truth is that the United States keeps getting poorer every single month. The term “trade deficit” is not very sexy, but it is critically important to understand if you want to comprehend what is happening to the U.S. economy. Every month tens of billions of dollars more wealth goes out of the United States than comes into it. We are continually getting poorer.

To cover up our declining national wealth, we have gone into staggering amounts of debt. We have maintained our lavish standard of living by piling up staggering amounts of debt on the national, corporate and consumer levels.

The sad reality is that the U.S. government is not the wealthiest government in the world any longer. Rather, it is the government that is the most in debt. The U.S. national debt is the biggest debt that the world has ever seen, and it grows larger every single day.

We can’t keep up this charade forever. At some point it is going to stop.

When this house of cards does come tumbling down, do you think that the American people are going to be pleased to learn that our leaders have squandered our once great wealth and have destroyed the greatest economic machine that the world has ever known?

Why not just tax all the rich people? That will sure fix everything…..right GARY?

Maria

The charade is already over.

We are now witnessing the implosion.

The Fed is going to expedite it.

The current administration will not stop it.

If you haven’t started preparing…do it now.

No one is going to bail you out.

Research. Save. Vote. Pray. R.S.V.P.

CJFYuma

America has regrettably already undergone that “spiritual and moral disintegration, fundamentally destructive to the national fiber.”

“Food Stamp Nation”, Patrick J Buchanan, 10/07/10

As the U.S. nation already underwent this “moral disintegration”, what follows is the start of an economic collapse, of a sort which this nation has never experienced. It will start with the futile unleashing of massive quantities of fed reserves (QE), driving the forces of hyperinflation, and eventually debt monetization, that will bankrupt, and destroy what’s left of the productive sectors.

The end of America, as we knew her glorious past, in the style of the old Weimar Republic of Germany, and the old Soviet Union, is about to unfold before our eyes. This is truly indeed a unique time to be alive, in a prophetic sense, for the lack of anything better else to say about it. Does it appear that this fate is inevitable, now, for America?

John ONeill

CJFYuma: You say, “This is truly indeed a unique time to be alive, in a prophetic sense, for the lack of anything better else to say about it.” Well, it all depends on what unique means. CFR, Trilateral Commission, vaccines, 9/11, Oklahoma City, eugenics, the Afghanistan war, the Iraq War that supposedly has ended, the pending Iran war, genetically modified foods, the national debt, and the rotting away of America is a little more unique in my book. Katherine Austin Fitts said she asks herself all the time how she can live in all this mess. Apparently, she thinks she can, but I did hear her once say that she would rather be dead than live under the New World Order. I second that nomination for whatever the unique might mean.

mondobeyondo

Don’t worry. Stop panicking. Everything is fine!

The (government manipulated) unemployment rate didn’t increase. So let’s pop open a bottle of champagne and celebrate! Americans are going back to work, and the worst is over. Recession, schmession!

Oops, I forgot to turn off the network TV news. Sorry!

mondobeyondo

Does anyone listen to Dave Ramsey’s radio show? And do you feel his advice is relevant to today’s circumstances? He is really big on saving money and getting out of debt. The getting out of debt part I agree with.. but saving money? Save money for WHAT? For it to lose value and be worth nothing?

justincase

It’s OK. As long as the lawmakers can vote themselves pay raises everything will be all right!

Gary

lostinmissouri-you are finally starting to make sence. Yes it will go a long way in fixing our economy. Rich people save, poor people and middle class spend. I can not think of a better use for the rich peoples ill gotten gains. If wages had increased along with productivity as they had in the past we would not be in this mess. people would make enough to live a decent middle class life w/o going into debt etc.

A large part of the rich folks wealth and income was/and is being stolen from the working poor and middle class. That is just a fact. Simply look at the horrible income inequality.

People are entitled to their opinions but not to their own facts.

David Shiloh

WHY are there no dates on these blog entries? C’mon guys

William

The saddest part of this mess is that there are Americans, like those who supported the unnecessary war of choice in Iraq, who think that nothing bad can happen in the “home of the free and the brave”, and that America can overcome these problems. The profligate deficit spending of the past 10 years has taken the US past the tipping point. We are over the edge financially. There are only two possible courses of action:

1) Default on the national debt

2) Inflate out of the crisis.

Both will drop the standard of living in America quite sharply.

http://www.danielrevelationbiblestudies.com Robert Stout

Our so called leaders of this country has pushed us all past the point of no return!!! The amount of greed has taken over wall street and the political machine!!! As a family we usually vote each year, but its to the place where, who do you vote for!!! Who is the bigger liar??? I’m so glad that the Lord Jesus is the great Judge, He sees all and hears all!!! The Day of Judgment is coming my friends!!! There will be no place to run and hide from God’s judgment seat!!!

Sammyone

All the wealth of all the rich in America could not pay off the National Debt. Because much of that wealth is in factories and warehouses and land and vehicles.

Who will buy that stuff if you are taking everything the wealthy have?

Oh, you just want all their cash. Relative to the National Debt that is a pitiful amount.

We are going to have to (literally) tighten our belts and go our way.

The solution to our problems will become evident as time goes on. The problems arose over time. That is how they will be solved. In the meantime adapt, be frugal and vigilant.

America has always emerged from crises stronger than she went into them.

The weak, easily influenced, historically ignorant and childish will become fearful.

The malicious will try to create fear.

Men and women of America, step up. Be firm.

Randy

The Second American Revolution will follow on the heals of the economic collapse and it will look more like the French Revolution did than the First American Revolution. Now is a very good time to NOT be living in suburban or urban areas.

Let’s take a refresher course before we get into what the hell is the going on now.
2008: Subprime mortgage industry begins to erode due to bad loans. Bad loans failing means Collateralized Debt Obligations(CDO’s–those AAA rated securities) begin to fail, potentially paralyzing the entire global economy by bringing lending to a complete halt. Banks beg for bailout, Congress refuses, stocks drop dramatically, and Congress passes the bailout package, TARP, to the tune of $700 billion. Despite the fact that said “bailout” would save the economy, it tanks anyway, and two years later there is still no recovery.

2010: Despite the MERS situation being evident for at least the past two years (that is, judges questioning whether MERS has the right to stand in as the lending party in foreclosure hearings), all of a sudden Bank of America and a few other big guns are freezing foreclosures either across the country or only in those states where foreclosures require a court-hearing. MERS(Mortgage Electronic Registration Service) was set up by the banks in 2000 for the sole purpose of stream-lining mortgages into CDO’s and getting them sold worldwide to duped investors. Several judges in several states have denied MERS the right to foreclose because the documents necessary to prove that MERS actually holds the deed are not able to be presented. Likewise, the Attorney General in California is demanding banks put a wholesale freeze on foreclosures and Senator Dodd has announced that he will begin holding meetings on the situation next month in the Senate, and there is speculation that a resolution trust corporation could be set up to review the mortgages and foreclosures and make sure everything is up to par.

What does this all mean?
Well, it depends on who you talk to, but it means that the millions of MERS handled loans dating from 2007 were almost entirely stream-lined, that is, lacking a good few critical paperwork back-ups and other technicalities like signatures or originations. This is what happens when you dice up a mortgage and sell it pieces that are scattered all over the universe. The trail virtually disappears. On top of that, the widespread fraud in the foreclosure racket is getting uglier, with the MERS connection coming in a close second to forgery and coercian as the basest charges against the industry.
Many are alarmed at this and saying that this could mean an epic collapse of the global economy because now the banks are threatened with NOT being able to foreclose on the millions of homes that are currently delinquent. This means that not only is there a severe loss of income for the banks and mortgage companies, but it also freezes the housing market for the foreseeable future. This means gigantic losses have to faced yet again by the banks for the same basic reason they had to be faced back in 2008–rampant, unchecked fraud. It also means that we are once again facing the possibility of a dramatic financial collapse, this in the face of new bailout money being proposed to the tune of $2 trillion.
Of course, Bank of America is confident that there is no issue with their foreclosures and they are just being careful. Since the Federal Government and the SEC–as well as the Treasury Department–are showing no interest in what could amount to a significant level of fraud on the part of the lenders and mortgage companies, what can one expect of the potential for a real disaster? Really, the banks are cooling things off and stalling so as to keep the lid on what’s happening. The lid is to hide the corruption from the general population, NOT the government. If the federal government didn’t blink an eye as the obvious criminality of the CDO-derivative scandals that nearly destroyed Western Civilization, why should they care now? Instead, it is the mission of the banks to have enough time to debrief the Federal Reserve, make sure they know what they need to keep the ball rolling, and move on. That means that even with the RTC involved, it will slow-going for any attempt to expose and correct the clearly criminal and fraudulent foreclosure processes taking place right now. If anything, Obama, Geitner, and Bernanke are going to move towards having all of the MERS handled mortgages rubber-stamped as valid and circumvent–illegally–any court ruling to the contrary. Likewise, this “crisis” on the eve of a Quantative Easing proposal that Bernanke has already stated will be inadequate, the banks can throw a few more zeros behind the ultimate number and keep the game going.

It is critical to remember two things as this unfolds–and you will see it unfold and it will seem dramatic and daunting and scary-as-all-hell (just like in the Fall of 2008):
1. The Federal Government is the maidservant of the Federal Reserve and corporations in general–NOT the other way around(thank you all you folks shouting “Socialist!” Get your facts straight!). This means that whatever it takes to keep the facade intact is what the government will do. The FACT is that the banks are, and have been effectively INSOLVENT. The government is effectively INSOLVENT. In both cases, the amount of debt owed is beyond a level that could ever be paid, so instead of default, the idea is keep just enough blood running to make us think that those corpses are really alive.
2. Austerity measure ALWAYS strip-mine the wealth of the lower class, NOT the other way around. If you really think that Obama is in the business of taking from the rich to give to poor, you are still gullible enough to swallow the idea of a two-party system. He serves the wealthy, HAS served the wealthy, and will CONTINUE to serve the wealthy like EVERY PRESIDENT SINCE GEORGE WASHINGTON. Are we all on the same page here? Your enemy is not the Democratic or Republican party, but the ELITIST CORPORATISTS WHO RUN THE GOVERNMENT!
Thus, if I say it is the LOWER classes who get strip-mined, I don’t mean those who make less than $45k. I mean those who make less than $500k. We are a two-tiered society right now, and if you aren’t in good with the movers and shakers, you are dog meat and will be treated as such.
Austerity means higher taxes, higher utility fees, higher interest rates, and NO “entitlements”.

So how does this play out?
As I said, the bankers are buying time to let the Fed work it’s bailout package, and in the meanwhile, before some outrageous number is conjured up, the MERS fraud will be glossed over with a rubber stamp, the foreclosure indiscretions will be partially remedied but largely forgiven, and the economy will teeter on the brink of ruin. Just when Congress or the media, or anyone else balks at the prospect of a $5-10 trillion dollar reinforcing of the bankers balance sheets, the stock market will tank, the fright will bring the dissenters to their senses, and the bailout will go through as planned.
In the end, just like last time, it will be the common people who suffer–the little people. It will be lay-offs, inflation, and rampant hunger and joblessness will abound. This will, of course, only serve to convince the naysayers how much we need the government, how lost we are without them, and we’ll hang on begging for some kind of stimulus that will feed our children and pay our electric bill.
They have us by the balls, these bankers. They always have. They screwed the economy, hijacked the government, and bled us dry in 2008. Now, in 2010, they need to push the point home again, this time raking in enough of a windfall to cripple any opposition and to enact the kind of measures that have destroyed economies and human beings across the third world.

Antonio Gonzalez

The United States was once the wealthiest nation by far on the entire planet.
BUBBLE OR LIE. WHAT?

GoatLady

Thank you for yet another eye-opening article. Keep up the good work.

jim moran

AFTER 12/21/2012 IT WON’T MATTER ANYMORE!
THE END IS NEAR,PRAY!
Check out Nostradamus,Mother Shipton,St.Malachy,and the Mayan calendar,oh yeah!

http://yahoo.com Mike Deburcher

The only way out is to repudiate and renounce the Federal Reserve debt, it is a fraud. Abolish the Federal Reserve as an insitution. Force the US Treasury to do its constitutionally mandated job. Immediately imposed a 100% tariff of all foreign made goods, commodities will be exempt. That will force jobs back into the USA,(putting people to work) reduce the trade deficit, and immdeiately jump start the economy. Then begin the trials for the treasonous bastards who created this mess, beginning with Lloyd Blankschein of Goldman Sachs, the Ben Bernanke and Alan Greenspan, until we work throught the list of collaborators who created this mess until we convict most of the sitting House and senate members.

John Mc

Agriculture prices limit up yesterday. That as they say is that.
Wall street knows to run up what people need, a tax on the basics, food and gas. Everytime anyone goes to the store it is a JPM tax, Goldman Sachs tax. And of course our elected officials and regulators (whores) are good with it.
No raise in next years social security since no inflation according to our gov.

Pappy

Paperwork, regulation, red tape and litigation aside, banks are realizing that the best way to keep their unsellable foreclosures from being looted for their copper or vandalized and protecting them from the delapidation of a winter’s worth of frozen pipes and natures ravages is to allow the people holding the unpaid mortgages to remain on the premises paying the utilities and keeping up the bank’s assets- their homes and former property.

Grob Hahn

What’s weird is how America’s charitable nature and even paranoid need to reduce poverty was so successful when it was applied to Americans and even other parts of the world. Once the world started invading America, the charitable efforts became a requirement regardless of fiscal solvency. THAT is where we failed!
Grobbbbbbb

Concerned Reader

I respect the author of this blog and appreciate all the news and opinion he states in each entry because it is all undeniably true. Although I kind of wish that he would make a entry where he talks about how bad things will get such as Greek style rioting all across the world and other things brought about thanks to the bad economy. Basically just predict the future.

alice

Maybe politicians should only have one term, period! Why? Because if they are motivated to run for just one term, it won’t be to make build a career (Which provokes them to make false promises and spend public money buying votes to get re-elected), it’ll be the fix something in our government that needs to be fixed, and back home they’ll go!

El Pollo de Oro

A Gallup poll released on October 7 shows figures even worse than 9.6%. According to Gallup, unemployment in The Banana Republic of America (BRA) rose to 10.1% in September; underemployment rose to 18.8%. One in ten Americans, no work at all—almost one out of five Americans, underemployed. Now here’s where it gets a lot worse: the REAL unemployment rate is much higher than that because there are plenty of Americans who have been unemployed for so long that they have fallen off the radar. Recession? No, try depression. And the worst is yet to come.

Of course, there are always plenty of clueless “blame the victim” types who will insist that the unemployed are unskilled, lazy, shiftless, bla bla bla when in fact, they are victims of the NWO globalists’ devilishly orchestrated war on the middle class—and if the globalist, neo-feudalist robber barons have their way, the American middle class will go from being on life support to being totally eradicated. The NWO globalists (or as Gerald Celente calls them, The White Shoe Boys) want American workers to be as desperate as possible; that way, they will work for slave wages a la India or Communist China (a hellhole that combines totalitarian communism with the worst elements of “crony capitalism”). The NWO robber barons have no interest in true capitalism or free enterprise; they want fascism, neo-feudalism, an oligarchy. And they have the same evil game plan for Europe that they have for the BRA, but as you can see from the huge, angry mega-demonstrations in España and elsewhere (which have been underreported by the BRA’s corporate media), Europeans have no desire to live in Third World misery or work in sweatshops. I hope to God there can be a peaceful outcome in Europe, but we shall see. As Malcolm X used to say, better to go out with dignity than live on your knees serving your devilish oppressor.

God help The Banana Republic of America.

tyler

Jim Rogers is brilliant and here are three reasons why:
1. He’s been long agriculture
2. He likes gold but he LOVES silver
Last but not least 3. He got the hell out of this country before shtf

The 25th Amendment Section 4 allows for the Vice President to get a President out of office if he is demonstrating that he is mentally unfit to continue in office. Obama has demonstrated that fact over and over again so it is time for Jo Biden to get him out. Congress will then have to reconvene, and pass the Glass Steagal Act, reinstate the Glass Steagal Act right away so that the Wall Street and Banking Cartels gambling debts are no longer the responsibility of the US Taxpayer. Sounds good eh? Then Congress can utter credit to launch the NAWAPA project, the NOrth America Water and Power Alliance, which you can read all about on the larouchepac.com website.
Let’s do it, the time is ripe.
God is blessing.

Alice Wolf

Hey it’s me again. I forgot to tell you all that the NAWAPA will immediately put about four million people back to work. It will take about five years to do the preparatory work of getting the project ready to go, which allows time to train our youth and give them the skills that will enable them to be part of this wonderful project which will completely transfotm Canada, the US and Mexico and the effects will result in great things happening in the same vein in South America, Asia, Africa and Europe. the entire planet will be revitalized and mankind will be allowed to be a creative force, and not be subjected to genocide which is what is staring us in the face right about now.
Get Obama out, reinstate the Glass Steagal Act, and get NAWAPA going. Surely there are enough of We the People to give our tragic Congress the courage to act as patriots and save the US and the rest of the World from a New Dark Age which could last for generations.
We don’t have to go through another Dark Age, the answer is simple, the 25th Amendment is there so we can tell Obama to quit, Congress can easily get back to DC and pass the Glass Steagall Act and the NAWAPA has been ready to go for fifty years now, and the laRouche PAC has the whole thing cooking on the stove which you can checkout on the larouchepac.com site. The la Rouche Show which was broadcast today, Saturday, is archived, and is well worth listening to. This is the way to go, there is no time to lose, this is it folks,
we can make it, we just have to get Obama out,
reinstate Glass Stegall and implement NAWAPA.
The momentum will be enormous and will carry us all the way to Mars, yes that’s what I said, all the way to Mars, intergalactic trading and a whole wealth of great things to do, Christopher Columbus proved that the world was round, now let’s prove we can get Obama out of office, reinstate the Glass Steagall Act and get NAWAPA going, and in the process of all that build a world wide mag lev railroad system and get ready to colonize the Moon and prepare for a manned mission to Mars, it may take a generation or two, but it’s such an exciting future, better than solar panels and windmills and genocide.
Check out the larouchepac.com site and watch the NAWAPA project videos and you will really get the vision, it is really really incredible and so very much up our alley.
Let’s do it America, we need to get cracking and be American. Patriots, arise!

Nikhil Shah

Interesting Article..keep it up…

John

We’ve been over-extended, living beyond our means as consumers and as a nation for decades. I believe it was President Carter who first (at least during my life time) hinted at the possiblity of learning to get by on less, and how empowering it might be. People were outraged by that suggestion! Carter was roundly defeated. But he was right.

The truth is too many of us have been spoiled rotten! And it’s not just the wealthy. Rather than point fingers and assign blame, we ought to be looking at ourselves.

Vic Anderson

Obummer: Time for A REAL DEAL, Rusevelt!

cab

always interesting to read opinions of many. always amuses me more, that thoughts fall as how a person in his own “nich” perceives a situation. the person who writes this as blown out of proportion is one who lives as the person with 2 new cars in the drive and his work has not been affected by such, flag flying in his front yard, hoorahing corporate news nightly, and those there those who feel the reality, then those, who think the government will fix things with obama and his staff of banker and corporate representives and economic beaucrats.government money distributers- big nanny. fact is people still don’t get it. this is a class situation, ruling class perceives this as such, and americans still living like this is an representative republic pipe dream. what is going on is well manipulated to the interest of the governing ruling class. stop catering to this mess with request with “a hand out” for government money-hand outs and someone to provide us with jobs. americans in the past were freer than we today because american labor was their own labor- not a corporation. stop buying this foreign made crap by american corporations over seas shipped back home–stopped playing to the game of wall steet and banking gambling of credit debt profiteering- live within your means- keep these thieves out of your pockets. this is a start. stop letting the ruling class form your thinking for you. freedom is independence, cut off the money flow to the thieves above you and they will fall like leaves in the autumn. this is not china’s doing it is american financial doings.

Jose Lopez

What are all you white folks whining about your just getting what you deserve for abusing the browns and blacks.

StokeyBob

11-

No matter how much honest money people can raise to build their county the way they want there are those that can just fire up the fiat money presses and print up what ever they want to see to it they get their way.

Maybe this will help make the danger of fiat money clear.

Imagine you and me are setting across from each other. We create enough money to represent all of the world’s wealth. Each one of us has one SUPER Dollar in front of him.

You own half of everything and so do I.

I’m the government though. I get bribed into creating a Central Bank.

You’re not doing what I want you to be doing so I print up myself eight more SUPER Dollars to manipulate you with.

All of a sudden your SUPER Dollar only represents one tenth of the wealth of the world!

That isn’t the only thing though. You need to get busy and get to work because YOU’VE BEEN STIFFED with the bill for the money I PRINTED UP to get YOU TO DO what I WANTED.

That to me represents what has been happening to the economy, and us, and why so many of our occupations just can’t keep up with the fake money presses.

Bilbo Baggins

Bottom line, is the corruption throughout the system is the problem. From the fat cat banksters to the greedy politicians, the common man stands little chance right now as the “game” is rigged. The big picture is much sadder, as we are on the path of severe pain and suffering for everyone, rich, poor, young and old. It’s hard now and the next 2-10 years will see the entire planet’s population in “reset mode” it’s simple math. 2+2=4 or e=mc2 this planet only can support so many, and over the last 200 years we have pretty much used it up. I recommend everyone watch http://www.chrismartenson.com/crashcourse It really is simple. We are on the downhill side of history, and I recommend everyone start to plan for a simpler life with less. God bless and stay strong.

James

@Jose Lopez
October 10th, 2010 at 5:54 pm

“What are all you white folks whining about your just getting what you deserve for abusing the browns and blacks.”
.
.
.
Looks like somebody has been watching a little too much TV.

http://www.youtube.com/enslavetherich EnslaveTheRich

@lostinmissouri. Are you just plain blind, or do you like what is happening to your country?!? Like those rich people are “entitled” to screw the public. Why not keep on paying billions in bonuses to conmen like the CEO of Lehman, who took half a trillion dollars as salary. Who on F-ing earth should EVER deserve to get that amount of money?!? Don’t you think that the balance is WAY OFF?!? Tell me what good reason is there to give most of the economic gains (of the last 20 years) to retarded CEO’s/managers while they don’t even PRODUCE horse shit. Gary, you are doing a great job, don’t give too much attention to people who are CLEARLY lost in Missouri, the articles you make are truly awesome, have not found anything near your level yet. Peace & Friendly greetings from one of your fans from the Netherlands.

JP

The Weimar Republic is the historic example that comes to my mind. It did not ruin Germany alone; that came later. The real danger is the kind of politics sparked by the the feeling of betrayal and humiliation of a poverty-stricken middle class. In the past, wars have been the easy way out of these sorts of problems.

lostinmissouri

Gary says
“If wages had increased along with productivity as they had in the past we would not be in this mess. people would make enough to live a decent middle class life w/o going into debt etc.”

Exactly my point! People DID MAKE ENOUGH, to live a decent middle class life, BEFORE WE HAD BIG GOVERNMENT, robbing not only the rich, but also the middle class, with business crushing regulations, taxes, and laws, that moved all our industries off shore, along with all the jobs. THANKS UNCLE SAM!

Wages would have increased along with productivity, if all the profits hadn’t been stolen, by the very government, that preaches the “tax the rich ” solution.

I find it rather odd that you can honestly believe, every successful rich American, got that way by “ill gotten gains.”

I’m not rich…far from it. But that doesn’t stop me from trying and someday achieving my goal.

If I am willing to put in 60-70 hour weeks and pay the price of being successful, then why should I, be punished, with overwhelming taxes, that could be used to create the jobs, that pay enough to give a person a descent middle class living.

Keep believing the “tax the rich lie” as the solution to all America’s problems and you can keep wondering where all the jobs went.

I never got a job from a poor man, or even a lower middle class guy.

WHO IS JOHN GALT?

http://none Mike Young

We are witnessing the end of Capitalism. Manufacturing offshore for higher profits is one of capitalism’s ingredients, as is the propaganda which tries to convince us the Free market is great for us…buy low and sell high was taken to such an extreme, that we are witnessing the End of Capitalism. What they should have done is not allow any imports of any kind, as we don’t make anything/much here any more. Our talent/worker base has moved into managment, but that cannot last either, as we have nothing left to manage. Everything is overmanaged here in the US…even the grass. We spend tons of money just mowing the grass beside the highways, when those lawnmowers should be making something. WE need to take care of US, not the other countries.

Gary

LOST IN MISSOURI said I never got a job from a poor man, or even a lower middle class guy.

Every time a “poor/lower middle class guy” purchases something you are getting a job. Just think of all the jobs that we would have if more “poor and lower class guys” had more money to spend had the rich not stolen our productivity gains…

I rest my case (for now)

Gary

Ok one more thing that really makes me angry:

If government truly represented average folks instead of the rich and the corporations then I think people would be more optimistic.

Think about it-in one long weekend Wall street got bailed out. There was tremendous seance of urgency to save the rich. Now if there was this same urgency to help the poor and middle class this would go a long way in improving peoples perception of government.

dan

its time to take america back,the only thing we can do is get out there in nov and vote republican,these liberal monsters want us down and out so we have to look to the gov. for help,were americans we know how to work harder than any other peaple on this earth,were much much better than those snob ugly ueropeans

http://yahoo.com Trina

@Jose Lopez; what are YOU whining about,and why are you in the United States,if you hate it so much?Latino’s in the US,who are illegal,take all the jobs Americans want now.They’re willing to take any jobs,immigrants used to do.Ask em!!

In Eugene,my friend’s son could not get a job,anywhere,cause for every opening,there are 300 or 400 applications,He’s going to Costa Rica,just cause he says they have more jobs.–permanently,to live.LOTS of Americans have left the country,who can,and many more are probably going to try to leave.Very skilled people can leave;the rest of us,are stick in this rapidly sinking hole.

Yes,we could have a “civil war”or/and”revolution”here.This govt. is not going to stay together,and the people are ready to revolt.We will become a banana republic place,with coups and revolts.It’s true.

Gonad T Barbarian

Rather than go the inflation route. someone wiser and more knowledgeable than myself (I cannot recall who or where I read this) suggests that defaulting on the “national debt” is probably the best option.

That way, the US FedGov would gain a *horrible* reputation in the international financial arena, no one on the face of the planet would extend the US FedGov any credit for a long time, and the US FedGov would be pretty well financially impotent and would not be able to interfere in the economy for quite a while.

The hyper-inflation route lacks the upshot of an emasculated US FedGov. The FedGov has been ruining the economy forever, it deserves to be emasculated…. it’s earned it.

A.N.

Get off of your left wing/right wing nonsense and get to the source of the problem which is our current monetary system that is based on money being created as debt. The system is bankrupt by DESIGN because there is more debt than there is total money available so eventually it must come down to either hyperinflation or default. Almost every dollar taxed by the IRS goes towards paying the debt which is directly in the pockets of the PRIVATE international banking cartel.

Solution: First financial campaign reform/kill lobbyist, take the corporate elite money out of the political system so the citizens can actually elect those that truly represent us and not only the money elite. Once that is done take the power of money creation away from the private banksters and put it back in the hands of the people (via the govt) and start creating DEBT FREE MONEY.

Once the huge debt is out of the way it will free up enough money so we don’t have to choose between severly cutting necessary social services (right) and penalizing the upper class with biased tax rates (left) and start investing back into education and technological innovation.

This is not the answer to ALL problems but I believe its a start. The other choice is to keep pointing fingers at each other while the trillionaires that are running this foul, corrupt and evil system continue to march towards total dominance at the expense of all of our livelihoods

amby

i think this is all crap!!!

amby

i think some people need to get over them self and some people are good people and need to stay that way thats what we need in this world but no body sees that so we all need to think about it